Sales of both Massachusetts single-family homes and condominiums increased in August 2011, The Warren Group, publisher of Banker & Tradesman, reported September 27, 2011.
August was the first time this year both property types posted a sales increase during the same month.
A total of 4,203 single-family homes sold in Massachusetts in August, a 15 percent increase from 3,652 sales in August 2010. The sales numbers represented the second consecutive month of year-over-year sales increases. August marked the second time sales have surpassed 4,000 this year. Year-to-date sales remain down 12 percent at 25,101, compared to 28,564 during the same eight-month period a year ago.
It should be noted that August 2010 had the fewest homes sales of any August in two decades.
The median price of single-family homes slid 3.4 percent to $305,700 in August 2011, down from $316,500 a year earlier. The median price for homes sold January through August was $296,000, down 1.3 percent from $300,000 in the prior year.
In August, Massachusetts condominium sales increased 5.8 percent, the first time this year that condo sales rose from a year ago. A total of 1,716 condos sold in August, up from 1,622 a year ago. Year-to-date condo sales are down nearly 22 percent, dropping to 10,012 from 12,830 during the same eight-month period last year.
The median condo price dropped 2 percent in August to $292,500, down from $298,500 a year earlier. The year-to-date median price of condos was $276,625, up almost 4 percent from $266,000 a year ago.